Press release

Bupa announces sale of part of UK care home business

Bupa today announced an agreement to sell part of its UK care home business to HC-One, subject to regulatory approval, in a transaction totalling around £300m[1].

The sale will see the transfer of 122 care homes to HC-One, a leading provider of health and social care in the UK.

Bupa will retain around 150 care homes and six Richmond Villages caring for over 9,000 residents, with a further four care homes and two retirement villages under construction.

David Hynam, Chief Executive Officer, Bupa UK, said: “We remain one of the main providers of residential care in the UK, and a major investor in the sector. This move enables us to focus our investment to continue to provide high quality care for our residents, both now and in the future. This year, Bupa will invest more than £120m into refurbishing existing homes and building new care homes and retirement villages.

“Bupa and HC-One have a shared commitment to excellence in care. We will work together over the coming months to ensure there is minimal change for residents and their families, and that they continue to receive the high quality care from the same dedicated teams.”

Bupa’s investment of more than £120m in 2017 into its care homes and retirement villages is in addition to £100m invested in 2016 in building, refurbishing and maintaining its homes.

Notes to editor

[1] Total transaction value subject to potential adjustments.

Bupa UK

Bupa Care Services: Bupa will have over 150 care homes, as well as six Richmond Villages with four new care homes and two new villages under construction.

Our business in the UK also comprises: Bupa UK Insurance, the leading health insurer in the UK with 2.3 million customers; Bupa Dental UK, a major dental provider in the UK operating more than 430 practices; Bupa Health Services, health clinics and wellness centres; and Bupa Cromwell Hospital a complex care hospital in London.

Around 70% of Bupa’s revenue is from health insurance, with the rest from healthcare provision. Bupa funds healthcare around the world and runs clinics, dental centres, hospitals in a number of countries. Bupa has care homes and retirement villages in the UK, Australia, Spain and New Zealand.

HC-One is a leading provider of health and social care, currently operating 231 care homes across the UK.

HC-One aims to be the first choice care provider in each of its communities for residents looking for the very best care and support, and the employer of choice for the best, most professional, and kindest care staff, with sector-leading career progression opportunities.

The acquisition of these 122 Bupa care homes follow’s HC-One’s 2017 acquisition of 20 homes from Helen McArdle Care. The locations of all HC-One homes can be viewed online at:www.hc-one.co.uk